Fix and Flip home shows are all over the TV
Fix and Flip home shows are great, And fun to watch not to mention how much you can learn. Most TV homes remodel shows have the process from start to finish dealing with all the workers, and even the sale house process and let me tell you that could be the best part and most challenging at times.
I experienced it a few years back before I got my real estate license. I tried the for selling by owner route because over the past 30 years. I’ve had lots of success selling on my own, and because the Arizona real estate market was so hot. But I’ll save the “For sale by owner” experience for another blog soon.
How realtors tried to get my listing when it was a FISBO (for sale by owner)
After all the extensive remodel that was done to the house and I will share more on that in another blog. The house was beautiful and done and it offered more than other homes in the area. It’s a real estate term that is allowed if used properly.
The realtor’s was a four-bedrooms and two-bathrooms home with no add-on. Very functional in these days and age. It had a pool, two-car garage located in a Cul de sac. Well, that should have been my first clue that doing a For sale by owner might be different this time because there was no drive-by traffic at all.
I held open realtors houses for 2 months and listed the home on Zillow, Redfin, etc and even sent out Postcards to the neighborhood letting them know in case they had a friend or relative who wanted to move close by. I had “Home for Sale” signs “Open House signs with arrows” that I bought used on Offer Up and I could not drive much traffic to the realtor’s house.
Realtors called from my free listings on Redfin and Zillow
This is where it got fun and interesting. Remember at the time of my last fix and flip I was not a licensed Realtor. That’s very important because as a licensed Realtor the law says you must let everyone know that when making offers on homes or selling one. Having a Real Estate now can be a benefit to me selling my own homes I own in the future or not. future blog.
Realtors are not suppose to cold call FISBO
The rules are pretty clear on this. As a Real Estate agents your not allowed to solicit someone selling their home on their own to try obtaining a listing but that doesn’t stop lots of them. They call and tell you they saw your home for sale on a site or maybe even driving by and seeing the For Sale sign. A real estate agents may call you when they have an interested buyer. Let’s just say I had lots of calls from Realtors saying they had an interested buyer.
No Real Estate agents ever showed with their interested buyer
I knew this move from my years of experience in the Real Estate business so it never really bothered me. I would field every call 7 days a week no matter what time of day and always be polite and talk to the real estate agents and even see what I could learn.
And don’t get me wrong I appreciate anyone that is out there hustling and trying honest-upfront moves to get in front of a potential client or customer. It’s not my way of doing business but I respect the hustle. Growing my real estate business Organically by helping others is what I’m about.
How I made my real estate agents choice
As a license realtor there are lots of ways to work hard on trying to find buyers and get listings. You will be hearing me mention this phrase a lot in my blogs ,“I gave my listing to, my friend, my sister, my cousin and so many more”. I want to earn my listings and use my hard work and real estate experience to help others find the homes or their dreams and sell. Nobody should be giving anything. It’s work and we should be “Earning it”.
But I’m guilty "I Gave my listing" to a real estate friend who lived close by
Everyone knows at least one or 2 people who have a Real Estate license most likely way more so who do you pick. My thinking at the time was I wanted someone that knew the area and lived close by to show the house and someone. I could work with because, I was happy to run over anytime and help out or show it or even do open houses and help them. It’s what I do.
The house happened to be near the Metro Center on the North West side of town. Lucky for me or not I knew a realtor friend that lived 3 blocks away. I even called him before I bought the house to ask some general questions about the area and improvement values just to make sure my thinking was correct about the area. He said he had to see it first. Another way real estate agents try to get in front of you.
The conclusion- "I Gave my listing to him"
After meeting up with some really good realtors, that I met along the way including my realtor I decided to go with my initial thoughts. Having a realtor who lived near and knew the area. (wait for my blog about how many Realtor friends and family were upset with that decision) oh boy.
My realtor could discuss schools and shop in the area better and all the amenities, that go with a neighborhood better than any of my choices and like I said all were great. What I didn’t expect from him was a battle over the listing price. Nobody wants real estate agents that just list it for whatever you want just to get a listing.
That’s not right. But I had done my homework and I’m from here and own a rental home not too far away so I knew the area well even though I didn’t live close. I saw what other homes were selling for and I went to open houses in the neighborhood and I felt my home was worth the price I had come up with. My realtor friend said he didn’t want to waste his time if I was going to list it for that, no joke.
After sometime I convinced him to list it for my price, it sold in 2 weeks.
Let me just say the house was beautiful. It has more than other homes in the same neighborhood. Lots of homes in the area only had 3 bedrooms and 2 baths and no fireplace or pool. Mine had both. Some love a pool and some don’t. Future blog. It was move-in-ready and the difference in price in what I wanted to list it for was $7,000. He agreed to try my price for a few weeks and said if it doesn’t sell I needed to lower it.
I agreed and It sold in 2 weeks for a few thousand more than even my price. Nice surprise for the realtor but not for me. I just happened to have a better feel for things than he did this time I guess. But the battle to give him the listing was memorable and I should add he never showed the home once and it had an average of 2 shows a day once on the MLS. Future blogs. I learned a lot from this